Martin Lewis offers advise to customers who owe money to energy companies.
Martin Lewis, a MoneySavingExpert, explains if your energy provider can raise your direct debit payment even if you’re heavily in debt.
According to the Mirror, he took to Twitter to claim that he has been swamped with this inquiry as households throughout the UK face soaring energy expenses.
Martin responded to the question: “I’m happily in credit, yet my energy provider has massively increased my Direct Debit, is this fair?” in a tweet to his 1.2 million Twitter followers. “What should I do?” According to the murder suspect, he kissed his partner good night before waking up to discover her dead. The money-saving guru said it depends on if your direct debit increase is “out of proportion” to cost increases in his response.
Martin elaborated: “A direct debit is used to spread out your energy bills over the course of a year.
“It’s common to be a month or two in credit when winter approaches. As a result, if you’re on the price cap, expect a similar increase in your direct debit.
“Expect that if you’re coming off a low-cost fix and spending 30 percent to 40% more. However, if you’re in credit and your direct debit is increasing at a pace that’s far higher than the rate increase, there’s a problem.” Martin recommended taking a meter reading first to make sure you’re being billed accurately.
If you still believe you’re being overcharged after that, phone your energy provider and ask them to explain the higher payments.
Martin stated, ” “If it can’t, request that it be reduced.
My fear is that some businesses are currently increasing direct debits to help with cash flow, even if it isn’t justified.”
Martin also advised households to take a screenshot of their online energy bill right now, even if their energy company hasn’t gone bankrupt yet.
This is because you’ll have a record of your most recent energy usage if a supplier goes out of business.
If your energy company goes out of business, the MoneySavingExpert founder explains whether you should cancel your direct debit or not.
Last month, Martin declared on his ITV show that homes on the energy price cap are now getting the best rates.